The following values and percentiles for the variable, Expected Income in 10 Yea

Question

The following values and percentiles for the variable, Expected Income in 10 Years (EXP_INC) are based on data provided by 209 students enrolled in QMETH 201 this quarter: EXP INC: 560,000 575,000 5100,000 5150,000 5300,000 Percentile: 10 25 50 75 90 Use two or fewer words to describe the shape of the associated, or underlying, distribution. Estimate (to two decimal places) how many students enrolled in the course expect to cam between S75,000 and S300,000 in 10 years. Determine whether the lowest actual value for EXPINC, $0, is an outlying value. Determine whether the highest actual value for EXPINC, 510,000,000, is an outlying value.

Explanation / Answer

A) This is a rightly skewed distribution as tail extends to positive direction with median =10000.

b) as % of student b/w 75000 and 300000 =90-25 =65

hence total number of student =209*65% =135.85 or 136

c) as interquatile range IQR =Q3-Q1 =(150000-75000) =75000

as lowest value should be =Q1-1.5*IQR=75000-1.5*75000 =-37500

as -37500 is lower then 0 hence $0 is not an outlier.

D) for Highest value =Q3+1.5IQR =150000+1.5*75000 =262500

therefore 10000000 is an outlier.

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